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US Stocks Drift After Record Highs as Markets Take a Pause

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Stocks,Markets,Record Highs

The S&P 500 dipped slightly after setting a new record yesterday, while the Dow Jones and Nasdaq remained largely unchanged. Global markets are taking a breather following recent sharp moves, with Australian shares poised to open higher despite a negative lead from Wall Street.

US stocks are drifting around their records as financial markets around the world take a pause following big recent moves.

The next date on the calendar circled for a potentially big market move is next week, when the latest monthly update on the US job market will arrive. Slowing hiring in the world’s largest economy has become the top concern among investors, now that inflation has eased significantly from its peak two summers ago.

Trump Media & Technology Group jumped 10.2 per cent and was on track for its first back-to-back gain in two weeks. The stock had been struggling amid speculation about when former President Donald Trump may sell some of his shares in the company behind the Truth Social network, now that he is free to do so.

A separate report released Wednesday morning said sales of new homes across the country slowed in August, but not by as much as economists feared.

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